Rivian Layoffs 2024: US-Based EV Company Cuts Nearly 1% of Its Total Workforce in Its Second Round of Layoffs This Year To Reduce Cost Amid Slow Electric Vehicle Demand

US-based EV company Rivian reportedly laid off nearly 1% of its workforce in its latest round of layoffs. The Rivian layoffs were implemented to cut costs. In January, Rivian layoffs began in 2022 when the company laid off 6% of its workforce in June, and in the following year, the EV company laid off more than 6% of employees in February. In February 2024, Rivian laid off 10% of its total workforce. The reason for the Rivian layoff was reportedly initiated to be cost reduction and slow EV demand. According to the report by Reuters, cost reduction is very important for the EV maker because the high-interest rates hurt consumer electric vehicle demand, which is already more expensive than petrol/gasoline-powered vehicles. Google Layoffs 2024: To Slash Costs, Tech Giant Reportedly Lays Off ‘Unspecified’ Number of Employees in Finance and Real Estate Teams.

Rivian Layoffs 2024 Leads to 1% More Job Cuts: 

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